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Im testing the water here as i haven't got all the paperwork yet.

However it seems my daughter and husband re morgaged with

Kensington, I know Ive been reading the posts with interest,

it would seem from the initial forms that the interest rate is 17.4% !!!

the amount of the loan was for £33000 it has been running for just over a year.

My questions really are

should they sell

is it possible to claim a mis-sold morgage

or ??? what other options do they have


I just cant believe these sharks can get away with this, but thats another rant

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That's a huge interest rate Firglo - I really don't know how they get away with it.


However, were they mis sold the mortgage? If they were like a lot of us on here and had no alternative but to pay the silly rates or lose the house or were they not aware of the 17.4% interest rate when they signed up?


I suspect if they were aware of the interest rate from the outset then they can't say they were mis-sold the product. But still maybe able to reclaim any ERC they have paid out.


That's only my thoughts based on very little knowledge, I'm sure other people will be able to help.


Good luck with it though - Kensington really do make my blood boil, my interest rate was 8.65% with them & I thought that was high!

Halifax 1

WON - £1,355.49 21/07/06


WON - £273.81 14/09/06

First Direct

WON - £913.50 01/09/06

Capital One

WON - £130.13 03/11/06

Halifax 2

WON - £188.03 01/12/06


Kensington Mortgages ERC

MCOL for £6,204.39 Discontinued

Halifax Mortgage Admin fee

WON - £10.00

Direct Line Mortgage Redemption Fee

WON - £99.00

Halifax 3

MCOL for £109.01 reg 07/03/07



Please sign this petition x

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Kensington are generally are mortgage provider of last resort. People do not generaly go to them unless they have a bad credit history or have to rely on self certified. If neither of these apply to your daughter and she was advised by a broker to take a mortgage with them there may be a case of mis-selling.


17% is a high rate for a mortgage, although as the mortgage was for a relatively small amount interest rates can be higher.


There is little they can do about this rate as it was what they agreed to and the law does not interfere with the setting of interest.


If they are able to switch mortgage products it may well be worth them doing so and claiming back any fees if they have had to pay them.


All the best



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Thanks ellielou and zootscoot

For your support and advice. my daughter will be round to-night so

hopefully I can get the full details and it is 17.4%

Looking at the Credit Agreement Unregulated ( thats what it says on the top )

The broker was Compass Finance, however the We bit on the form is

Money Partners. then in the small print it says that it will usually be transferred to Kensington Mortgages.

My initial thoughts are the same as zootscoot she needs to try and get out of it. I'll let you know how things progress

There is something calming or theraputetic about telling strangers about this, thanks again

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  • 2 weeks later...

Well the latest is, from what I can tell the best option is to

reclaim charges from the Halifax, who are their existing mortgage company

reclaim charges from Kensington who they have a secured

loan/re-mortgage with. Sell the house then try to claim the ERC which they will certainly hit her with.

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